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Webcast
2
Update
Taxes
Basic tax preparation knowledge

Course Description

This course describes and compares sole proprietorships, partnerships, limited liability companies, C corporations, and S corporations taking into consideration the new 20% Qualified Business Income (QBI) deduction. It examines the advantages and disadvantages of each, helping you properly select the right business entity for your clients' specific tax needs. The course answers the question on how the new 20% QBI deduction impacts each entity choice.




Instructors

Vern Hoven, CPA, MT

Vern Hoven, CPA, MT, is one of America’s premier tax presenters and speaks to over 100 groups a year on a variety of tax topics. He teaches at Western CPE Federal Tax Update seminars and conferences and produces self-study and webcasts courses as well. Vern consistently receives outstanding evaluations and has won numerous teaching awards, including the prestigious AICPA 2014 Sidney Kess Award for Excellence in Continuing Education.
Vern is the author of the best-selling Real Estate Investor’s Tax Guide and a favorite interviewee on radio, television, and in newspapers. His presentation skills have earned him the coveted Certified Speaking Professional (CSP) designation from the National Speakers Association, which has granted only 400 CSPs out of 3,600 NSA members as of 2006.
Vern practiced in the public, governmental, and corporate accounting fields before starting his own public accounting practice in 1973, a firm that grew to one of the largest in western Montana. In 1985, he started his present tax consulting practice. CPA Magazine recognized Vern as one of the top 50 IRS representation practitioners in 2008.

Sharon Kreider, CPA

Sharon Kreider, CPA, has helped more than 15,000 California tax preparers annually get ready for tax season. She also presents regularly for the AICPA, the California Society of Enrolled Agents, CCH Audio, and Western CPE. You’ll benefit from the detailed, hands-on tax knowledge Sharon will share with you—knowledge she gained through her extremely busy, high-income tax practice in Silicon Valley. With her dynamic presentation style, Sharon will demystify complex individual and business tax legislation. She’s a national lecturer for business and professional groups and consistently receives outstanding evaluations. In 2014, she was awarded the prestigious AICPA 2014 Sidney Kess Award for Excellence in Continuing Education.



Course Specifics

Taxes
Aug 6, 2018
Basic tax preparation knowledge
WC18186493
None


Compliance Information

103220
IRS Provider #: 0MYXB
IRS Course ID: 0MYXB-T-01291-18-O
IRS Federal Tax Update Credits: 2
CTEC Provider #: 2071
CTEC Course ID: 2071-CE-1236
CTEC Federal Tax Update Credits: 2
Qualifies for CA Fraud: No


Learning Objectives

Upon successful completion of this course, participants will be able to:

  • Recognize the characteristics that define a sole proprietorship, noting applicable advantages and disadvantages of the entity choice as well as formation, accounting, reporting requirements, and tax consequences, taking into consideration the new 20% QBI deduction.
  • Determine the legal and tax characteristics that constitute a partnership or LLC, noting applicable advantages and disadvantages of the entity choice as well as formation, accounting, reporting requirements, and tax consequences, taking into consideration the new 20% QBI deduction.
  • Specify reasons for choosing an LLC over an S corporation or C corporation, taking into consideration the new 20% QBI deduction.
  • Recognize what constitutes an S corporation and specify the advantages and disadvantages associated with this choice of entity as well as its tax treatment, taking into consideration the new 20% QBI deduction.
  • Define a C corporation, noting the distinguishing characteristics and tax treatments of regular corporations versus other entities, taking into consideration the new 20% QBI deduction.




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